May 2014

Developers are usually one step ahead of the curve.

It's worth noting, then, that the Southpark area is one of the most rapidly-developing neighborhoods in all of Charlotte! Home prices are on the rise in the Southpark region and everything from retail to office space is popping up at the blink of an eye. We're pretty excited to see where all the transition's heading (we spend a lot of time at Phillips Place and dining at all Southpark's great restaurants!) so let's all take a look at what's been happening in the Shopping Epicenter of the Queen City...

Photo: Charlotte Business Journal

First and foremost, we've got to talk about the new hotel. Tate and Crossland are developing a 300-room, dual-branded hotel to be located just behind Sharon

Ballantyne is sometimes referred to as a "suburb on steroids."

Photo: BizJournals.com

That's not too far off. South Charlotte's largest and fastest-growing region has exploded over the last two decades and native Charlotteans say they wouldn't even recognize it if it weren't for all the well-designed signage. People are flocking to Ballantyne in droves - for the good schools, the fair home prices, and the burgeoning retail scene - but we bet there are still a few things you don't know about Charlotte's most independent "neighborhood."

1. Lots of folks want Ballantyne to become its own city.

Okay, maybe you knew that already. But did you know there's actually a group called SMART (the "South Mecklenburg Alliance for Responsible

For Sale by Owner

Those four simple words are pretty loaded. They make homeowners see green, and real estate agents cringe. We get it! It's hard not to understand why people try to sell their homes themselves. There are plenty of reasons it just makes sense for a select few to go this route.

But...

There are way, way more reasons you shouldn't waste time (and money) trying to sell your home yourself. A good real estate agent is worth their fee 10 times over as anyone who's tried and failed at "For Sale By Owner" will tell you. Here are four really, really good reasons to hire a broker from the get go and avoid the pitfalls of trying to sell your home yourself.

1. Real estate agents do more work than you think.

It's happening!

Tomorrow the long-plagued Charlotte Bobcats will officially become the Charlotte Hornets. The team will retire the Bobcats color scheme and name to coincide with the 2014 Draft Day lottery and there will even be a press conference to commemorate the event in Time Warner Cable Arena.

That means Rufus Lynx (who knew Rufus had a last name?!) will officially be retiring, too, and replaced by the old Hornets' mascot Hugo. Click here for Rufus' "goodbye video":

We're pretty excited about what the name change will do for the city of Charlotte. The new team colors are definitely a step up! The city's really rallied behind "Bring back the buzz" and we're happy to see larger crowds and (hopefully) a better team record in years to come.

Lake Norman is sometimes referred to as the "Inland Sea," and for good reason! It's huge.

Constructed between 1959-1964, Lake Norma is the largest freshwater lake in North Carolina. It actually provides power for much of the greater Charlotte area. Not only is Lake Norman full of boaters, swimmers, and fantastic real estate opportunities, it's got a lot of hidden history, too. Whether you live at the lake, enjoy it during summertime, or simply dream of one day owning a waterfront home in Charlotte, here are nine things you didn't know about Lake Norman.

1. It took a full two years to fill the lake with water after construction of the dam. Lake Norman has over 500 miles of shoreline!

Good news! The new Charlotte city budget calls no new property tax increases in 2015. Good thing, too, since there was a significant increase in 2014. The budget still needs to be approved in early June, but all signs point to rates staying the same for homeowners this year.

"Tax season" may be over but that doesn't mean you should put up your checkbook quite yet. All real estate tax and property taxes are assessed on January 1st each year, but they're not officially due until September 1st. If you bought or sold a house this year you'll want to talk to your broker about how property taxes were divvied up during the settlement.

So, what's the difference in your property's "assessed value" and its "market value?"

Ahhh, the streetcar.

It's a throwback to a simpler time and many cities around the country (most notably, New Orleans) have flourishing streetcar infrastructure. We're excited Charlotte's finally making moves to expand the city's streetcar footprint and we think any public transportation is generally a good sign for a city's growth.

We've gotten several questions lately on the state of the streetcar in the wake of former Mayor Patrick Cannon's arrest; he was a very vocal proponent of the streetcar line. Folks here in Charlotte seem to be worried the project will now stall out, get less funding, or generally flounder. Good news: New Mayor Dan Clodfelter is also a proponent of the plan! Don't worry. The streetcar's still on track. (Ha! See what we did

We love to see our beloved city grow.

Development's back in Charlotte in a big way after the last few years' recession and nowhere in the city is this more evident than Uptown. From the cranes adding on to Bank of America Stadium to the many new paint jobs and retail stores popping up across the city, Uptown's on the move. Estimates hold that by 2020, the demand for office space and retail in center city will surpass 1,000,000 square feet.

Two new renderings show what are slated to be the newest additions to the skyline:

Tryon Place includes a 27-story office tower as well as a boutique hotel. It'll have between 500,000-1,000,000 sq.ft. when completed. The new building will anchor Uptown's skyline to the west of Duke Energy.